Lawmakers React To President's Fiscal Speech

Lawmakers from both sides of the aisle were quick to respond to President Obama’s highly-anticipated speech on fiscal policy Wednesday.

Senate Majority Leader Harry Reid (D-Nev.)

“There’s been a lot of talk about shared sacrifice when it comes to cutting spending and reducing the deficit. Republicans believe the sacrifice should fall mainly on seniors and the middle class, while millionaires and big corporations get more tax breaks. As the President made clear, Democrats have a different view. We believe that the responsible approach is to make sure the wealthiest Americans contribute their fair share as we try to bring our fiscal situation back into balance.”

Rep. Paul Ryan-Chairman of the Budget Committee

“When the President reached out to ask us to attend his speech, we were expecting an olive branch. Instead, his speech was excessively partisan, dramatically inaccurate, and hopelessly inadequate to address our fiscal crisis. What we heard today was not fiscal leadership from our commander-in-chief; we heard a political broadside from our campaigner-in-chief.

“Last year, in the absence of a serious budget, the President created a Fiscal Commission. He then ignored its recommendations and omitted any of its major proposals from his budget, and now he wants to delegate leadership to yet another commission to solve a problem he refuses to confront.

“We need leadership, not a doubling down on the politics of the past.  By failing to seriously confront the most predictable economic crisis in our history, this President’s policies are committing our children to a diminished future. We are looking for bipartisan solutions, not partisan rhetoric. When the President is ready to get serious about confronting this challenge, we’ll be here.”

Sen. Rob Portman (R-Ohio)

“While I am pleased President Obama has acknowledged the budget he put forward in February failed to address the nation’s looming fiscal crisis, I continue to be disappointed by the lack of specific proposals from the President to fix our staggering debt and deficit. His budget plan was a political document that called for more spending and rejected the serious recommendations of his own Fiscal Commission, which set a deficit reduction goal of more than $4 trillion over 10 years. This goal should be the standard for any serious plan to reduce the deficit. 

Rep. Anthony Weiner (D-N.Y.)-Via Twitter

“Somewhere Joe Wilson is yelling ‘You Lie!’ over and over at his TV. President is doing great setting the debate.”

House Speaker John Boehner (R-Ohio)

“To reduce the economic uncertainty hanging over American job creators we must demonstrate that we’re willing to take action. And any plan that starts with job-destroying tax hikes is a non-starter. We need to grow our economy - not our government - by creating a better environment for private sector job growth. That’s why Republicans are fighting for meaningful spending cuts and fighting against any tax increases on American small businesses.”

Senate Majority Whip Dick Durbin (D-Ill.)

“Our bipartisan group of six Senators continues to work for a comprehensive solution to our nation’s debt … the President’s speech makes it clear that he is committed to the same goal.”

House Majority Leader Eric Cantor (R-Va.)-Prior to speech

“The only concrete proposal in the president’s plan that he’ll roll out today is his plan to raise taxes … we don’t believe that raising taxes is the answer here.”

House Minority Leader Nancy Pelosi (D-Calif.)

“Today, President Obama presented not only a strong vision for America’s future, but a strategic plan for how we achieve it.  The President took the debate to a higher ground, focusing on the priorities Americans hold most dear and the principles that make our country strong. 

“The President made it clear: we will protect the health of our seniors by preserving Medicare and Social Security; invest in the education of our children; and ensure the strength of our middle class, as we reduce the deficit.

“Democratic priorities stand in stark contrast with the Republican vision that ends Medicare and shifts costs to seniors as it gives tax breaks to Big Oil and millionaires.  Democrats will continue to measure every initiative by whether it creates jobs, strengthens our middle class, and responsibly reduces the deficit.”